• 14 May 2009 at 10:07 AM

Layoffs Watch ’09: HSBC London

By Bess Levin

A gaggle of employees in leveraged finance were told to leave at not come back at HSBC across the pond this afternoon. Severance is apparently 6 months. Asses in the US are so far intact (this morning) but “rumors are obviously flying.”

Comments (28)

  1. 1
    Posted by guest | May 14, 2009 at 10:12 AM

    that’s a pretty sweet parting gift.

  2. 2
    Posted by guest | May 14, 2009 at 10:13 AM

    i’d take 6 months

  3. 3
    Posted by guest | May 14, 2009 at 10:17 AM

    thats a big package

  4. 4
    Posted by guest | May 14, 2009 at 10:19 AM

    I am a hedge fund manager, what is leveraged finacne??
    -Tim Sykes

  5. 5
    Posted by guest | May 14, 2009 at 10:19 AM

    that’s what she said!

  6. 6
    Posted by guest | May 14, 2009 at 10:20 AM

    @3, that’s what she said. I can’t help it. But yeah, i’d take 6 months too.

  7. 7
    Posted by guest | May 14, 2009 at 10:20 AM

    Why thank you!

  8. 8
    Posted by guest | May 14, 2009 at 10:21 AM

    Laura Pentergest-Holt seems quite at ease for facing obstruction, and conspiracy charges. She is quite smiley and talkative, on CNBC.

  9. 9
    Posted by guest | May 14, 2009 at 10:24 AM

    Laura Horseface Colt is at the courthouse in Houston. The photo DB posted must have been a Glamour Shot, as it’s pretty clear her parents must have been siblings.

  10. 10
    Posted by guest | May 14, 2009 at 10:27 AM

    What about Credit Suisse Houston?

  11. 11
    Posted by guest | May 14, 2009 at 10:28 AM

    oops… is that also affecting junior classes?

  12. 12
    Posted by guest | May 14, 2009 at 10:30 AM

    what is hsbc??
    The Guy From Delaware

  13. 13
    Posted by guest | May 14, 2009 at 10:36 AM

    3 months is standard if you haven’t been with the company for a certain amount of years- 6 months probably means the person was tenured

  14. 14
    Posted by guest | May 14, 2009 at 10:37 AM

    @12, back to Rehoboth for you, stooge.

  15. 15
    Posted by guest | May 14, 2009 at 10:41 AM

    What is a Rehoboth?

  16. 16
    Posted by guest | May 14, 2009 at 10:44 AM

    Speaking of the UK I think its AWESOME that Manchester United still has to play games wearing the AIG logo. One of the best teams wearing a total disgrace of a company on their jerseys. I love irony.

  17. 17
    Posted by guest | May 14, 2009 at 10:46 AM

    poodle beach, DE. Live it, Love it

  18. 18
    Posted by guest | May 14, 2009 at 10:46 AM

    How do you get me and my two buddies all on one stool? Turn it upside down!
    The Guy From Delaware

  19. 19
    Posted by guest | May 14, 2009 at 11:24 AM

    @16, I have been wondering for a while when the heck they were going to dump the AIG logo – I mean how horrible must it be to be a Man U fan and have to wear that crap on your jersey??

  20. 20
    Posted by guest | May 14, 2009 at 11:28 AM

    6 months is ridiculous. I got the
    heave-ho in January from barcap and only got 3 months. blows….

  21. 21
    Posted by guest | May 14, 2009 at 11:33 AM

    whats odd is that the lev fin market is actually showing some signs of life right now (at least the U.S. new issue market) so seems like poor timing….

  22. 22
    Posted by guest | May 14, 2009 at 11:35 AM

    excuse me, Mr Rehoboth, your chinese food has arrived

  23. 23
    Posted by guest | May 14, 2009 at 11:49 AM

    @16,19 – I believe Vijay Singh is still wearing a Stanford hat in tournaments.

  24. 24
    Posted by guest | May 14, 2009 at 12:13 PM

    Leveraged finance volumes will probably never exceed 25% of ’07 levels, which is when HSBC went on its hiring spree to build out its platform. Two highest paid guys bankwide for ’08 were leveraged finance hires from DB.

  25. 25
    Posted by Anal_yst | May 14, 2009 at 12:14 PM

    Does HSBC still have any LevFin team in NYC?

  26. 26
    Posted by guest | May 14, 2009 at 12:42 PM

    still levfi folks in NYC – the two highest paid bank-wide were also amongst 2 highest paid bankers world-wide (Cole and Toscano); their guarantees probably aren’t up yet so they have to keep sitting there doing nothing like they have since they started until they can get hired for big bucks by someone else

  27. 27
    Posted by guest | May 14, 2009 at 2:19 PM

    @24,
    are you saying that they hired from dealbreaker?! AWESOME DUDE!

  28. 28
    Posted by guest | May 14, 2009 at 2:20 PM

    i prefer my bonds to have some junk in the trunk
    The Gay From Delaware

Leave a comment

You can log in with your account or comment as a guest below.

   or